U.S. Senate Unanimously Opposes Pardon for Sam Bankman-Fried: Political Maneuver or Legal Inevitability?
A bipartisan group of U.S. senators, led by Cynthia Lummis and Ruben Gallego, has introduced a resolution opposing any potential presidential pardon for FTX founder Sam Bankman-Fried. While the document lacks direct legal force, it serves as a powerful political signal, demonstrating the consolidated position of the upper chamber of Congress.
As a reminder, Bankman-Fried is currently serving a 25-year prison sentence imposed by Judge Lewis Kaplan. The verdict, upheld last week by the Federal Appeals Court, includes the recovery of $11 billion. According to the prosecution, the fraudulent scheme caused losses of over $8 billion to the exchange's clients. In the text of the resolution, senators directly state that "the sentence corresponds to the exceptional scale and deliberateness of his crimes, his lack of remorse, and the catastrophic harm to millions of victims."
Political Background and Lobbying Efforts
Bankman-Fried himself has already filed a formal pardon request with the U.S. Department of Justice's Office of the Pardon Attorney. His application is under review. Notably, the former FTX head has openly supported Donald Trump in posts on X, and according to insiders, his parents are actively lobbying for their son's interests, enlisting lawyers connected to the former president.
However, in January of this year, Trump publicly ruled out the possibility of a pardon for Bankman-Fried. If the sentence remains unchanged, the FTX founder will not be released until 2044. Moreover, according to available information, he plans to launch a new crypto token after his release—a move that many experts view as an attempt to maintain influence in the industry even from behind bars.
My analysis: The Senate resolution is not merely a formality. It creates a powerful political backdrop that makes any pardon extremely toxic for the administration. Even if the request passes through the Department of Justice, public pressure from both parties virtually guarantees that the matter will not be resolved in Bankman-Fried's favor. The FTX case has become a symbol of crypto fraud, and any step toward leniency in sentencing will be seen as a blow to justice. In the current political climate, the chances of a pardon are approaching zero.